Lubrizol announces sales of $1.52bn in Q1 2011
Reaps rewards for improved price and product mix
The Lubrizol Corporation has announced consolidated earnings of $169.6m for the quarter ended 31 March 2011 on sales of $1.52bn. Consolidated earnings, which were 4.4% higher than in the first quarter of 2010, included $9.1m of after-tax special charges largely related to Berkshire Hathaway’s pending acquisition of Lubrizol.
Sales were 15.2% greater in the first quarter of 2011 than in the prior year period, an increase Lubrizol attributed to an improvement in the combination of price and product mix, as well as higher volume.
Lubrizol’s additives business increased to $1.08bn, while its advanced materials segment grew to reach $436m.
